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Mobile bancassurance startup Habitto raises $3.9 million

Mobile bancassurance startup Habitto raises $3.9 million

Habitto, a Tokyo-based startup looking to change money habits through a mobile bancassurance platform, has raised US$3.9 million in a pre-Series A financing round.

Co-led by Saison Capital and Cherubic Ventures, the round was joined by new investors DG Daiwa Ventures, GMO Ventures, Kyokuto Securities, Epic Angels and discrete angel investors.

This financing round follows an earlier seed round in which the company raised US$3.4 million in September 2021 led by Saison Capital.

Habitto is looking to take on the financial anxiety that the Japanese face about their future. The mobile offering connects savings, investment and life insurance products supported by financial advisors. SJ Mobiles Labs, the operator of Habitto, was the first non Japanese company to be issued the New Financial Service Intermediary license in October 2022.

The Habitto team completed a closed beta providing free financial advice to participants in December 2022 and plans to launch to the public in the second quarter of this year.

Liam McCance chief creative officer and co-founder, comments: "The financial advice offered in our private beta showed really promising results. Most participants had little previous experience, if any, with independent financial advice, however, most recognised the need and indicated a willingness to pay for access to independent financial advice."

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